Mr. Saxena: The company is a high technology separations company. We develop and market technology and equipment that are designed to enable our customers to separate various things from complex liquid mixtures. We have a variety of markets that we service. The first one is the biotechnology industry, wherein our products are used by biotechnology companies to isolate, to purify various biological drugs that are intended to be used in patients for therapeutic purposes. I believe eight or nine FDA approved drugs are currently using our products in the manufacturing process. Secondly, our technology is also in the dairy industry to isolate proteins from dairy whey, and thirdly our technology has exciting applications in the juice industry. As you can see, there are a number of vertical applications for our technology only a few of which have currently been developed. The company has been a development stage company and we're now transitioning into commercialization.
TWST: Who are the prime customers for your products?
Mr. Saxena: In the biotechnology industry, our customers include
Baxter, Schering-Plough, Human Genome Sciences, Chiron Corporation,
Glaxo-Wellcome; and a wide variety of first-tier customers. In the
dairy industry, we've recently announced deals with two leading dairy
ingredient suppliers of international standing. One is Anchor Products
of New Zealand. Anchor, through the New Zealand Dairy Board, accounts
for over 30 percent of the world export business in high end diary food
ingredients, and they are a several billion dollar company. Pursuant to
our agreement, Anchor will use our technology to produce certain dairy
proteins, which will be extracted from whey, and will be targeted for
high end uses such as differentiated infant formula, which is closer to
human milk, as nutracentical supplements.
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